Most people make a mistake of confusing Knowledge with Skill. However, the 2 are vastly different and understanding this difference will get you to focus on building real Skills. Let me explain with an example all of us can relate to. I might be very knowledgeable about Cricket. I might be able to tell you everything there ever is about cricket including how to hit sixers and boundaries. Does that make me Sachin Tendulkar? Does that give me the Skill to hit even one six in a professional match? I am sure you would have guessed the answer (though I must add that I play good cricket and I think I can :).

Similarly, I see a lot of IFAs being busy and attending conferences listening to several cricketers and non-cricketers (I mean people who have practiced and people who have not). The irony of our profession is that practice management advice today is given by people who have never practiced (More on this point some other day). In 2-3 day, conferences and events, IFAs believe they are learning a lot and getting a lot of knowledge (yes, you discover interesting speakers and concepts in such events). Needless to say, you gather Knowledge. However, this will not make you a Skilful IFA.

A better option is to invest in a Skill building Workshop such as Acquiring Clients Virtually or Learning & Practicing to communicate so prospects understand your value better (and many others). Make sure this is conducted by someone who has himself/herself done it.